Units Outstanding

3 Months Ended

Mar. 31, 2014

13.	Units Outstanding

Changes in limited partnership units outstanding during the three-month period ended March 31, 2014 were as follows:

Outstanding as of December 31, 2013	268,373,419
Options exercised	273,084
Units issued	8,337
Units retired	(81,438	)
Outstanding as of March 31, 2014	268,573,402

During the first quarter of 2014, we purchased 9,505 AllianceBernstein Units in private transactions and retired them.

As discussed in Note 3, on July 1, 2013, management retired all unallocated Holding Units in AllianceBernstein’s consolidated rabbi trust, and, since that time, has continued to retire units as we have purchased Holding Units on the open market or from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards.